I've been thinking on this one some more after trying out the Cineform software. I looked at the current HG21 AVCHD workflow using uncompressed files with pull down removed via After Effects. I compared these huge files to those generated by the Cineform conversion application. The Cineform files were about 1/12 the size even at the "Film Scan 1" setting, and even at 400% magnification I couldn't tell the difference between the uncompressed and the Cineform encoded files.

The Cineform 3:2 pulldown removal workflow was super-simple and very fast, generating fairly compact working files. I'm guessing AVCHD has been very good for their sales :-)

Yet I still have few issues with Cineform. I went to BB and used my own SD cards to record some footage on HG20. I shot at 24p and even with Cineform workflow pulldown I see ghosting. It is not on zooming and panning but on still shot when people go by. Before that I did not have the sound converted. (had to install ac3filter) so I am still waiting on an answer from David why there is so much ghosting on the footage. I assume I use the wrong codec - adobe avc decoder, but isn't this the default when you have PPro CS3 installed anyway?

Mario, I did not attempt a Cineform preset based project, but rather a 1920x1080 24p custom preset using files already converted to the "filmscan 1" preset. In that case, audio was fine and I did not see ghosting.